As of 11 am on Day 2, the Quadrant Future Tek IPO had been subscribed over 24 times.ipo

Quadrant Future Tek IPO Day 2: Check latest subscription, GMP and price band

Quadrant Future Tek IPO: The grey market premium (GMP) for Quadrant Future Tek IPO stood at Rs 210 as of Wednesday, signalling a premium of approximately 73% over the issue's upper price band of Rs 290.

by · India Today

In Short

  • Quadrant Future Tek IPO subscribed 24 times by 11 am on Day 2
  • Retail investors lead with over 78 times subscription in IPO.
  • GMP at Rs 210 suggests roughly 73% premium over issue price

The Quadrant Future Tek IPO, which opened for subscription on January 7, witnessed strong investor interest, with the issue fully subscribed within hours.

As of 11 am on Day 2, the IPO had been subscribed over 24 times. Retail investors drove the momentum, with the retail portion subscribed 78.58 times, while the non-institutional investor (NII) category saw 36.31 times subscription.

The Rs 290-crore IPO is a completely fresh equity issue of 1 crore shares. Investors can bid for the public issue at a price band of Rs 275-290 per share, with a minimum lot size of 50 shares. The bidding window for the IPO will remain open until January 9.

QUADRANT FUTURE TEK IPO GMP

The grey market premium (GMP) for Quadrant Future Tek IPO stood at Rs 210 as of Wednesday, signalling a premium of approximately 73% over the issue’s upper price band of Rs 290. While GMP is not an accurate market listing indicator, it reflects positive sentiment in the unofficial market.

OTHER IPO DETAILS

The IPO’s strong response is backed by the company’s potential to benefit from robust growth in the Indian specialty cable and train control system markets. Analysts have recommended subscribing to the issue, citing fair valuations and the company’s strategic position.

Quadrant Future Tek specialises in developing next-generation Train Control and Signaling Systems under the Indian Railways’ KAVACH project. It also manufactures specialty cables for railway and naval defense sectors.

The IPO proceeds will fund long-term working capital needs, capital expenditure, loan repayments, and general corporate purposes. The allotment is scheduled for January 10, with the listing expected on January 14.

Investors are keenly watching this high-demand IPO, given its strong fundamentals and promising GMP